Symbotic has acquired autonomous forklift developer Fox Robotics in a transfer that broadens its logistics robotics choices. Monetary particulars concerning the acquisition weren’t disclosed. Symbotic introduced the deal throughout its Q1 2026 earnings name.
Symbotic founder and CEO Rick Cohen stated the Fox Robotics acquisition offers Symbotic entry to a broader market in autonomous materials dealing with and the chance to introduce new options even past current warehouse automation.
Fox Robotics was based in 2017 in Austin, Texas. The variety of clients it has is unclear. By itself web site, Fox Robotics says it “at present has 100+ FoxBot autonomous forklifts put in at 54 buyer websites throughout the U.S. and Canada.” Throughout the Symbotic earnings name, nonetheless, Cohen stated Fox Robotics has 25 clients and “largely what they’re doing is pilots.”
Cohen stated most of Fox Robotics’ clients aren’t Symbotic clients. However it seems the 2 firms share one massive buyer: Walmart. Throughout the earnings name, Cohen stated Fox Robotics is promoting to Symbotic’s largest buyer. That buyer is Walmart.
“The attention-grabbing factor with Fox [Robotics] is our massive buyer has hundreds of fork vehicles. However there are many different clients. The CPG producers, their amenities, the place they really don’t do as a lot guide choice, however they nonetheless transfer pallets from the warehouse to the vehicles. They unload items to their warehouses.
“So what I’m enthusiastic about is that we’re in search of extra alternatives to work together with clients and acquisitions is a pleasant option to do it to introduce them as we discuss to the availability chain individuals and we make these robots extra profitable, they construct credibility and belief in Symbotic as an answer supplier. A few of [Fox Robotics’] greatest clients aren’t Symbotic clients. Now. Hope they are going to be sooner or later,” Cohen stated through the earnings name.
Walmart has lengthy been Symbotic’s largest buyer. Some estimates have Walmart accounting for practically 90% of Symbotic’s income as of early 2026. Symbotic in 2025 acquired Walmart Superior Methods & Robotics, which initially was Alert Innovation. Walmart acquired Alert Innovation in 2022 to develop in-store automation for e-grocery success, however Walmart bought this enterprise to Symbotic in January 2025 to concentrate on broader functions.
Fox Robotics’ FoxBot autonomous forklift. | Credit score: Fox Robotics
Walmart introduced in 2024 that, after a 16-month pilot, it rolled out 19 autonomous forklifts throughout 4 high-tech distribution facilities.
“Some M&A could possibly be a manner of buying clients and getting far more interplay with the shoppers,” Cohen stated through the earnings name. “Within the Fox acquisition, we will promote guided fork vehicles to much more individuals than we will promote a Symbotic system to. I imply, we may promote two guided fork vehicles to Joe’s, you realize, pizza warehouse.
“However there’s individuals like DHL and different individuals which are very involved in house that they’re working assessments on, a number of the massive CPG firms. So, we’re these form of acquisitions. So, we checked out Fox and stated, this can be a very, very massive potential buyer base. Smaller gross sales per transaction however starting to indicate clients how they will take into consideration reorienting their warehouse.”
Symbotic reported first quarter income of $630 million, up 29% year-over-year, and web revenue of $13 million, in contrast with a web lack of $17 million within the first quarter of fiscal 12 months 2025. The corporate stated adjusted EBITDA reached $67 million, up from $18 million within the first quarter of fiscal 12 months 2025.
Money and money equivalents totaled $1.8 billion on the finish of the primary quarter of fiscal 12 months 2026, reflecting a $574 million enhance from the prior quarter, which incorporates $424 million of web proceeds from a follow-on providing.
“We’re off to a powerful begin this fiscal 12 months,” stated Cohen. “Our operational execution and product innovation are yielding tangible financial advantages for each our clients and us.”
